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Market Recap

Market Recap

Market Recap

WEEKLY market review

9 January to 15 January 2019

The local market was subdued this week, with the NSX Local index down 0.02% at 621, and the NSX Overall Index up 3.28% to close at 1336. As at 15 January, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 15.6 billion, followed by FirstRand Namibia with N$ 11.6 billion, Namibia Breweries with N$ 9.4 billion, and Capricorn Investment Group with N$ 8.2 billion. Trustco Group lead the market this week, with growth of 1.59% to close at N$ 16 per share. In terms of volume Trustco Group also lead the market with N$ 899 thousand worth of shares traded, with Letshego Holdings Namibia in second place with N$ 646 thousand worth of shares traded. The local currency gained 1.69% against the US Dollar, to close at N$ 13.74 per USD, and gained 0.51% against the British Pound, to close at N$ 17.68 per GBP. It closed at N$ 15.68 against the Euro, a gain of 1.94%.

The Namibia Statistics Agency released the inflation figures for the month of December 2018, and revealed that annual inflation is now 5.1% compared to 5.2% the same time last year, having decreased from the 5.6% recorded for November 2018. The decrease since last year is attributed to declining prices in housing, water and electricity (9.2% to 3.1%), hotels and restaurants (5.5% to 4.3%), health (5.2% to 4.8%) and other goods and services (4.7% to 4.0%).

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